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Renting still a better bet than buying, but gap closing, says BNZ

Mortgage rates are tracking down, but renting a comparable home is still cheaper, the bank’s research shows.

The rental/purchase gap has shrunk slightly over the past 18 months.

Bank of New Zealand says renting remains a more affordable option than purchasing a home, with ownership costs sitting at about 43% of average household income, versus 25% for the average monthly rental bill.

The analysis by BNZ, the country’s fourth-largest mortgage lender with about 15% of the

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Brent Melville Thu, 24 Apr 2025
Contact the Writer: bmelville@nbr.co.nz
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Renting still a better bet than buying, but gap closing, says BNZ
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